water

 

 

 

 

 

 

 

 

 

 

 

 

The biggest mistake that new traders make is they think the right predictions are the key to profits. That making a ‘call’ is the key to great trading. Well it is not. Successful trading comes from robust quantified trading methods. Testing a methodology on historical pricing. Not being a genius that knows what will happen but being a trader that profits from what is happening. A profitable trader takes signals from price action as it occurs they do not predict ahead of time what will happen they react in real time to what is happening. This is one concept that most new traders can not get over due to the seemingly large learning curve. The worst thing a trader can do is have a ‘conviction’ about a trad and stubbornly hold on to it after being proven wrong. The best thing a trader can do is take a loss quickly when they are proven wrong and have the smallest losses possible. Small losses and big wins is what makes a trader profitable and a trader can not be profitable if they end up with big losses. Big losses tend to cancel out big wins and even high winning percentages. Flow like water in your trades being open to whatever is going to happen to enable you to make the right decisions as price unfolds. While strong winds can break an oak tree the same winds can not hurt water, it is too flexible.